Issue - meetings

Councillor N England, Cabinet Member: Finance, Customer Services & Governance presented the report of the Interim Director Finance & Human Resources which set out how the Council would deliver the Strategy and its five key priorities. It sought approval of the Council’s Medium Term Financial Strategy together with the budget framework for 2024/25.

It was noted that there had been a significant increase in demand for services, together with higher costs in relation to the provision of Adult Social Care and energy costs. There were high levels of financial pressure and complexity of need in relation to both Adult Social Care and Children’s Servies which had led to a Council Tax increase of 4.99% all of which would go to vulnerable children and adults.

In accordance with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, a recorded vote was taken on the recommendations as follows: -

For (33)

Councillors E Aston, M Boylan, A J Burford, E Callear, L D Cater, G H Cook, E Davies, S Davies, P Davis, F Doran, A England, N England, S Handley,

Z Hannington, C Healy, L Lewis, G Luter, A D McClements, R Mehta,

K Middleton, H Morgan, R A Overton, I Preece,  S J Reynolds, H Rhodes,

R Sahota, P J Scott, B J Thompson, C R Turley, J Urey, O Vickers,

P R Watling and D R W White.

Against (0)

Abstain (10 )

Councillors S Bentley, S P Burrell, N Dugmore, A J Eade, T J Nelson,

S Sydra, G Thomas, W L Tomlinson, K Tonks and R Tyrrell.

RESOLVED – that

a)     the Medium-Term Financial Strategy (MTFS) for 2024/25 – 2027/28 and the budget framework for 2024/25 be approved;

b)    a council tax increase of 4.99% for 2024/25 including the Government’s 2% Adult Social Care precept, which will be fully invested in the provision of social care services for the most vulnerable members of our community be approved;

c)     the net investment of £5.9m into Adult Social Care in 2024/25 be approved;

d)    the net investment of £7.6m into Children’s Safeguarding in 2024/25 be approved;

e)     the budget savings totalling £17.567m in 2024/25 be approved;

f)      the continuation of work with partner organisations, including Town & Parish Councils and Voluntary Sector and Community Groups to seek to identify ways to mitigate the impact of some of the cuts to services that could no longer be delivered be approved and the availability of the Invest to Save/Capacity Fund which is available to support partnership working be noted;

g)    the base budget, the policy framework for Reserves and Balances and their planned use be approved;

h)    the Risk Register be approved;

i)       the Council Tax Reduction Scheme for implementation on 1 April 2024 be endorsed;

j)       the continuation of the Council Tax Reduction Hardship Assistance Policy be approved;

k)     the revenue implications of the medium-term capital programme for the period 2023/24 – 2027/28 set out in the Capital Strategy and Programme reports be approved;

l)       delegated authority be granted to the Interim Director:  ...  view the full minutes text for item 64

To receive the Medium Term Financial Strategy 2024/25 – 2027/28.

The Cabinet Member: Finance, Customer Services & Governance

 presented the report of the Interim Director: Finance & Human Resources.

The report sought approval of the Council’s Medium-Term Financial Strategy (MTFS) for the four years 2024/25 – 2027/28 and contained details of the Capital Strategy; Medium-Term Capital Programme; Investment Strategy; Treasury Management Strategy and the Prudential Indicators.  This combined information formed the Council’s overall Medium-Term Financial Strategy and the budget framework for 2024/25.

Key points from the report were the 2% adult social care precept for next year meaning a 4.99% overall increase in Council Tax would be required.  This increase would support the most vulnerable members of the community and despite the increase council tax remained the lowest in the region.

A public consultation had taken place together with scrutiny by members of the Council’s cross-party Business and Finance Scrutiny Committee on the MTFS.   The report remained consistent with the strategy and set out a prudent financial management throughout an unprecedented and protracted period of sever financial constraint.

The report set out the proposed medium-term capital investment programme which totalled £420m and highlighted the financial benefits such as high-quality homes for rent and jobs for local people. 

The Council were currently below the national average in relation to financing costs and net revenue streams and this was expected to remain the same for the remainder of the financial year.  Borrowing was proportionate for the size of the authority with a 60% planned return on investment which helped to protect front line services. 

Cabinet Members commented on the difficult circumstances that the Council were facing along with the long-term degradation of services.  The Council would continue to invest so as to benefit the local community and work hard to find efficiencies and investment opportunities in order to provide services and for the local community to live well and be protected.

The Leader of the Liberal Democrat Group applauded the return on the investments and the creation of jobs and partnerships which brought in additional tax.  The focus had to be on the government funding local councils in order to prevent the issuing of s114 Notices. 

The Deputy Leader of the Conservative Group noted the report and welcomed the opportunity for debate at Full Council.

The Leader thanked the cross-party Scrutiny Committee who had unanimously agreed a robust budget.  It was regrettable that Council Tax would be increased, the first time in 2 years, but every penny of the increase would go to protecting adult social care and children’s safeguarding.  Careful financial management and efficiencies would be required to meet the increased cost and demand for services.

RECOMMENDED TO FULL COUNCIL that:

a)    the Medium-Term Financial Strategy (MTFS) for 2024/25 – 2027/28 and the budget framework for 2024/25 set out in this suite of reports;

b)   council tax increase of 4.99% for 2024/25 including the Government’s 2% Adult Social Care precept, which will be fully invested in the provision of social care services for the most vulnerable members of our community;

c)    the net  ...  view the full minutes text for item 51